SoundCloud Loses CEO But Stays Afloat With New $215 Million Investment

According to Ljung, SoundCloud just wrapped up its largest financing round, receiving $170m (£135m) from The Raine Group and Temasek.

Ljung also announced that Kerry Trainor and Michael Weissman, former executives of video-sharing platform Vimeo, will take over as CEO and COO of SoundCloud, respectively.

"The investment will ensure a strong, independent future for SoundCloud, funding deeper development and marketing of its core tools used by millions of audio creators", said a representative for SoundCloud.

As part of the investments, SoundCloud is adding talent from two former Vimeo executives.

Musicians already turn to SoundCloud to invite unusually public collaborations on unfinished works, promote new songs - or get private feedback before releasing a track to the world.

"SoundCloud is the largest open audio platform in the world", Trainor said.

Should the investment deal, referred to as Project Sonic, close tomorrow, The Raine Group, Temasek, and all other existing investors would receive Series F stock, a special class of common stock that has seniority and preference, while existing Series E investors would have their liquidity preference cut by over 40 percent.

SoundCloud spent years negotiating with record labels to build a $9.99 per month subscription service to match Spotify and Apple, but the resulting product hasn't gained traction. As I said, we're not going anywhere.

SoundCloud last reported about 170 million users and saw significant increases in creator subscriptions, uploads, listening time and listener subscriptions over the past 12 months. Total revenue has more than doubled to more than a $100 million annual run-rate this year. "It's unique. We just closed out the first decade and created a really unique platform that impacts global music every day", said Ljung.

August 21 solar eclipse requires safe viewing
Glasses or other solar filters also shouldn't be used if they're scratched or damaged, according to the astronomical society. Doctors say that watching the phenomenon without proper protection can cause serious eye damage or even blindness.

Super Saturday for Great Britain
He is still the best in the world", Gatlin said. " They were holding us too long in the call room ", Yohan Blake told the media. Team GB's first ever Men's 4x100m World Championship success followed the silver medal won by Team GB Women.

Klopp on set pieces and Mohamed Salah
Klopp also said he had "nothing to say about this" when asked what Coutinho had said to him regarding the Barcelona interest. BARCELONA are weighing up a final offer of £137million for Liverpool's Philippe Coutinho , according to reports.

Japan prepares to intercept stray missiles from N. Korea
Security Council to continue to address the crisis. "I feel safe with our military presence here - Andersen and the Navy". But there's also some resentment about not being able to vote in the general election for USA president.

Three youth killed in latest bloodshed in occupied Kashmir
The dead soldiers were identified as Sepoy Ilayaraja P, a resident of Tamil Nadu, and Sepoy Gawai Sumedh Waman from Maharashtra. Security forces have confirmed that the body that has been recovered was that of Yasin Yatoo, news agency ANI reported today.

S. Korean shares open lower amid tensions over N
Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4%. Mr Trump earlier this week said North Korea would be met with " fire and fury " if it continued to threaten the US.